Clariant Chemicals India selling 87 acres land Rs 1,154 crore brought by Lodha Developers

Clariant sells 87 acres of land near Mumbai to Lodha Developers

12:18 PM, 16th April 2014
Clariant Chemicals India selling 87 acres land

MUMBAI, INDIA: Clariant Chemicals India has announced sale of 87 acres of land near Mumbai to realty firm Lodha Developers for Rs 1,154 crore ($191.56 million). Clariant Chemicals (India), the Indian arm of the Swiss- based Clariant International,  had taken shareholders’ approval to sell this land in July last year.

“The company has entered into an agreement to sell its land located in Kolshet, Thane, aggregating to about 87 acres to Ishwer Realty and Technologies Pvt Ltd, subsidiary of Lodha Developers, for an aggregate consideration of Rs. 1,154.25 crores. The transaction is subject to customary closing conditions and is subject to relevant approvals and permissions from the Government and other statutory bodies, as may be necessary,” said Clariant Chemicals in a filing to the Bombay Stock Exchange.


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